Consumer
Chinese grocery player Miss Fresh sells shares at $31m valuation
Chinese online grocery delivery platform Miss Fresh has agreed to sell an 88.1% stake to a third-party investor at a valuation of approximately USD 31m – one-tenth of the company’s market capitalisation when it listed in June 2021.
L Catterton exits Australia’s Seafolly
L Catterton Asia has sold Australian swimwear brand Seafolly to an unidentified Asian strategic buyer in a deal that values the company at AUD 70m (USD 46m).
Deal focus: Change at the margins for Proterra Asia
Proterra Asia has been investing in food and agriculture across the region for 13 years. This will continue, regardless of tweaks in management entity ownership and fund structure
Deal focus: AGIC eyes beauty with industrial characteristics
Pure Trade runs a network of third-party manufacturers that provide packaging to global beauty brands. AGIC saw an asset that sat neatly in its Asia-Europe industrial supply chain sweet spot
India edtech: Class dismissed
With investment all but evaporated and its champion in a tailspin of bad press, India’s massive online K-12 education space is in an awkward limbo. It’s a welcome correction though
Chinese retailer KK Group files for Hong Kong IPO
KK Group, a Chinese online-to-offline lifestyle retailer that has raised more than USD 400m in venture capital funding, has filed for a Hong Kong IPO.
RTP leads $17m round for India internet provider
RTP Global has led a USD 17m round for India’s Wiom, a home internet provider for middle and lower-middle-income customers.
PEP raises continuation fund for New Zealand's Up Education
Australia's Pacific Equity Partners (PEP) has raised a single-asset continuation fund of approximately AUD 400m (USD 268m) for Up Education, a vocational education business it has held since 2015.
US sports, media-focused GP backs Australia's PMY Group
Bluestone Equity Partners, a US private equity firm specialising in sports and media, has made an investment of undisclosed size in Australia’s PMY Group, an IT provider for stadiums and arenas.
Goodwater raises $1b across two funds
Goodwater Capital, a US-based VC firm with a presence in Korea and significant Asia exposure, has raised USD 1bn across two funds. It brings assets under management to USD 3.3bn.
AGIC buys French beauty packaging player
AGIC Capital, a specialist in Asia-Europe cross-border deals, has acquired Pure Trade, a Paris-headquartered packaging supplier to the global beauty industry.
Deal focus: Glow chooses B2B supplier for debut deal
Australia’s Glow Capital Partners took its time finding a maiden investment that ticked all the boxes of its consumer and brands strategy. This involved edging slightly down the supply chain
Aspirant exits Japanese fish retailer to local strategic
Japanese middle market private equity firm Aspirant Group has sold Yamato, a local seafood company with interests stretching from fish wholesaling to conveyor belt sushi restaurants, to kitchen-wear supplier Tenpos HD.
Asia-based football investment platform backs England's Charlton Athletic
ACA Football Partners (ACAFP), an investment platform established by professionals from Singapore-based ACA Investments, is part of a consortium that has acquired English football club Charlton Athletic.
Australia's River Capital targets UK cake shop chain
River Capital, an Australian investment firm that owns speciality cake retailer The Cheesecake Shop, has been rebuffed by the board of UK-based Cake Box Holdings after submitting a buyout offer for the listed company.
KKR leads $190m Series C for Korea fashion platform
KKR has led a USD 190m Series C round for Korean online fashion platform Musinsa with support from Wellington Management.
Creature comforts: Why PE likes pet care
Private equity investors have long championed the resilient characteristics of pet care globally. The pandemic helped solidify a similar value proposition in Asia
Deal focus: Telexistence’s nimble robots target retail, logistics
Japan’s Telexistence appears to be on the cusp of a significant milestone in retail automation. Local logistics tech investor Monoful is hoping to take that promise to the warehouse
China's Keep raises $40m in Hong Kong IPO
Keep, a China-focused fitness app operator backed by the likes of GGV Capital, SoftBank Vision Fund 2, and 5Y Capital, traded up slightly on debut after raising HKD 313.5m (USD 40m) in a smaller-than-anticipated Hong Kong IPO.
Deal focus: COPE moves fast with Malaysia petfood play
Recognising a local champion in a pandemic-proof category, COPE Private Equity flipped a significant minority stake in Malaysian petfood maker Pet World in just over two years
Tiger, Blume join $33m round for India's Battery Smart
Tiger Global Management and Blume Ventures have supported a INR 2.7bn (USD 33m) pre-Series B round for Indian battery-swapping electric vehicle (EV) infrastructure provider Battery Smart.
500 Global backs debut fund from Singapore's First Move
500 Global has backed the debut fund raised by Singapore’s First Move, a pre-seed VC firm set up by former executives of Malaysian online-to-offline commerce services provider Fave.
US GP backs Australia skin tanning products brand
Gauge Capital, a US private equity firm with experience in the Australian health and beauty space, has invested in local tanning cream brand Loving Tan. Financial terms were not disclosed.
Amara backs Cambodian hotpot restaurant chain
Cambodian private equity investor Amara Capital has invested an undisclosed sum in local hotpot restaurant operator KFK Holdings.